Wasatch Advisors LP Sells 327,827 Shares of Construction Partners, Inc. (NASDAQ:ROAD)

Wasatch Advisors LP lowered its holdings in Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 18.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,428,397 shares of the company's stock after selling 327,827 shares during the period. Wasatch Advisors LP owned about 2.56% of Construction Partners worth $126,356,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Construction Partners by 42.8% during the 4th quarter. Vanguard Group Inc. now owns 3,492,368 shares of the company's stock valued at $308,935,000 after buying an additional 1,046,617 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Construction Partners by 75.6% during the fourth quarter. Invesco Ltd. now owns 1,493,866 shares of the company's stock worth $132,147,000 after purchasing an additional 642,987 shares in the last quarter. FMR LLC increased its position in shares of Construction Partners by 32.1% in the fourth quarter. FMR LLC now owns 2,329,801 shares of the company's stock worth $206,094,000 after purchasing an additional 565,583 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Construction Partners during the fourth quarter valued at approximately $42,527,000. Finally, Allspring Global Investments Holdings LLC lifted its position in Construction Partners by 197.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 616,032 shares of the company's stock valued at $54,104,000 after purchasing an additional 408,610 shares during the last quarter. Institutional investors own 94.83% of the company's stock.

Wall Street Analysts Forecast Growth

ROAD has been the subject of a number of research analyst reports. DA Davidson reaffirmed a "neutral" rating and set a $95.00 price objective on shares of Construction Partners in a report on Thursday, January 30th. Robert W. Baird boosted their target price on Construction Partners from $100.00 to $102.00 and gave the stock a "neutral" rating in a research report on Monday, February 10th. Finally, Raymond James decreased their price target on shares of Construction Partners from $112.00 to $104.00 and set a "strong-buy" rating on the stock in a research note on Thursday, January 16th.

Insider Activity at Construction Partners

In other news, CEO Fred Julius Smith III acquired 9,333 shares of the stock in a transaction on Monday, April 14th. The stock was acquired at an average price of $73.83 per share, with a total value of $689,055.39. Following the completion of the transaction, the chief executive officer now owns 9,333 shares of the company's stock, valued at $689,055.39. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP John L. Harper sold 6,000 shares of the business's stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $73.83, for a total transaction of $442,980.00. Following the sale, the senior vice president now directly owns 159,389 shares in the company, valued at $11,767,689.87. The trade was a 3.63 % decrease in their position. The disclosure for this sale can be found here. 16.36% of the stock is currently owned by company insiders.

Construction Partners Trading Down 1.3 %

ROAD traded down $1.02 on Friday, hitting $77.45. 632,114 shares of the company were exchanged, compared to its average volume of 438,274. The stock has a market capitalization of $4.33 billion, a PE ratio of 72.38, a price-to-earnings-growth ratio of 0.99 and a beta of 0.85. Construction Partners, Inc. has a 12 month low of $49.16 and a 12 month high of $103.69. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.23 and a current ratio of 1.54. The firm has a fifty day simple moving average of $74.01 and a two-hundred day simple moving average of $82.58.

Construction Partners Profile

Construction Partners, Inc, a civil infrastructure company, constructs and maintains roadways in Alabama, Florida, Georgia, North Carolina, South Carolina, and Tennessee. The company provides various products and services to public and private infrastructure projects, such as highways, roads, bridges, airports, and commercial and residential developments.